Bachmann, 55, told a small group of supporters Tuesday night that she was staying in the presidential race — despite her sixth place finish — as the only true conservative who can defeat President Barack Obama. But her campaign is known to be low on money.

Her campaign peaked early with a first place finish in the Iowa GOP's summer straw poll, but by mid- to late September polling showed Bachmann in single digits. She focused her campaign efforts on Iowa, where she grew up.

The New Hampshire primary is the next contest in the race. But Bachmann's strategy had her effectively writing off that Jan. 10 contest and focusing on the Southern state that, at least on paper, is a better fit for her brand of conservatism. The South Carolina primary is on Jan. 21.